UMB Bank n.a. grew its stake in shares of Waste Connections, Inc. (NYSE:WCN – Get Rating) by 16.2% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,544 shares of the business services provider's stock after purchasing an additional 1,050 shares during the quarter. UMB Bank n.a.'s holdings in Waste Connections were worth $935,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. PFG Advisors raised its holdings in Waste Connections by 2.4% during the first quarter. PFG Advisors now owns 25,055 shares of the business services provider's stock worth $3,507,000 after purchasing an additional 576 shares in the last quarter. Jennison Associates LLC increased its holdings in shares of Waste Connections by 2.5% in the 1st quarter. Jennison Associates LLC now owns 26,915 shares of the business services provider's stock valued at $3,760,000 after acquiring an additional 665 shares during the period. Gateway Investment Advisers LLC increased its holdings in shares of Waste Connections by 3.2% in the 1st quarter. Gateway Investment Advisers LLC now owns 89,336 shares of the business services provider's stock valued at $12,480,000 after acquiring an additional 2,735 shares during the period. BI Asset Management Fondsmaeglerselskab A S acquired a new position in shares of Waste Connections in the 1st quarter valued at $193,000. Finally, Thornburg Investment Management Inc. increased its holdings in shares of Waste Connections by 36.8% in the 1st quarter. Thornburg Investment Management Inc. now owns 56,866 shares of the business services provider's stock valued at $7,944,000 after acquiring an additional 15,308 shares during the period. Institutional investors and hedge funds own 79.33% of the company's stock.
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Insider Buying and Selling
In related news, VP Patrick James Shea sold 7,000 shares of the business's stock in a transaction dated Thursday, September 8th. The shares were sold at an average price of $145.26, for a total value of $1,016,820.00. Following the sale, the vice president now directly owns 12,813 shares in the company, valued at approximately $1,861,216.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, Director William J. Razzouk sold 4,073 shares of the business's stock in a transaction dated Monday, August 8th. The shares were sold at an average price of $140.03, for a total value of $570,342.19. Following the sale, the director now directly owns 4,016 shares in the company, valued at approximately $562,360.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP Patrick James Shea sold 7,000 shares of the business's stock in a transaction dated Thursday, September 8th. The stock was sold at an average price of $145.26, for a total transaction of $1,016,820.00. Following the completion of the sale, the vice president now owns 12,813 shares in the company, valued at $1,861,216.38. The disclosure for this sale can be found here. Insiders own 0.35% of the company's stock.
Waste Connections Price Performance
Shares of NYSE WCN opened at $135.13 on Monday. The firm has a market capitalization of $34.75 billion, a P/E ratio of 51.19, a PEG ratio of 2.89 and a beta of 0.69. Waste Connections, Inc. has a one year low of $113.50 and a one year high of $148.20. The company's fifty day moving average is $139.86 and its two-hundred day moving average is $133.24. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.94 and a current ratio of 0.94.
Waste Connections (NYSE:WCN – Get Rating) last issued its earnings results on Tuesday, August 2nd. The business services provider reported $1.00 EPS for the quarter, topping the consensus estimate of $0.95 by $0.05. The company had revenue of $1.82 billion for the quarter, compared to analyst estimates of $1.80 billion. Waste Connections had a net margin of 10.25% and a return on equity of 13.38%. Analysts forecast that Waste Connections, Inc. will post 3.75 EPS for the current fiscal year.
Waste Connections Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Thursday, September 1st. Shareholders of record on Thursday, August 18th were given a dividend of $0.23 per share. The ex-dividend date of this dividend was Wednesday, August 17th. This represents a $0.92 annualized dividend and a dividend yield of 0.68%. Waste Connections's payout ratio is currently 34.85%.
Analysts Set New Price Targets
A number of brokerages have recently commented on WCN. Raymond James lifted their target price on shares of Waste Connections from $146.00 to $155.00 and gave the company a "strong-buy" rating in a report on Friday, August 5th. Royal Bank of Canada lifted their target price on shares of Waste Connections from $147.00 to $152.00 and gave the company an "outperform" rating in a report on Thursday, August 4th. BMO Capital Markets lifted their price objective on shares of Waste Connections from $143.00 to $151.00 and gave the company an "outperform" rating in a research report on Thursday, August 4th. Atb Cap Markets upgraded shares of Waste Connections from a "sector perform" rating to an "outperform" rating in a research report on Thursday, August 4th. Finally, Oppenheimer set a $135.00 price objective on shares of Waste Connections in a research report on Tuesday, July 19th. One analyst has rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus price target of $148.88.
Waste Connections Profile
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Waste Connections, Inc provides non-hazardous waste collection, transfer, disposal, and resource recovery services in the United States and Canada. It offers collection services to residential, commercial, municipal, industrial, and exploration and production (E&P) customers; landfill disposal services; and recycling services for various recyclable materials, including compost, cardboard, mixed paper, plastic containers, glass bottles, and ferrous and aluminum metals.
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